Sarah A. Miller/Associated Press
In Texas, sections of the Keystone XL pipeline are already being built. The holdup is over the portion that would cross the border between the U.S. and Canada, whose Alberta oil sands is the source of the bitumen.

Keystone XL Founders and Costs Escalate, as Sen. McConnell Calls It 2015 Priority

ICTMN Staff
12/20/14

The battle over the Keystone XL pipeline is slated to heat up after the first of the year, but at the same time, economists are questioning whether it’s even worth building as oil prices drop, and President Barack Obama is saying that it will not benefit the U.S. so much as Canadian oil companies.

"The issue in Keystone is not American oil. It's Canadian oil," Obama said at his last press conference of the year, according to the Associated Press. In addition, there’d be "very little impact" on gas prices in the U.S., he said, and the pipeline would not be “a magic formula to what ails the U.S. economy.”

This is not the first time Obama has implied that the economic promises of Keystone XL may not be all they are touted to be. Back in August 2013 he noted that the number of jobs promised versus the number of permanent jobs that will actually remain is negligible.

RELATED: The Truth Hurts? Obama's Stark Jobs Estimate for Keystone XL Pipeline

That has not deterred Republican Senator Mitch McConnell, who this week said Keystone XL will be the first agenda item for the newly Republican Congress when it reconvenes next year.

It’s "a job creating bill that enjoys significant bipartisan support,” said McConnell, who will take his place as Majority Leader in the next session, to Bloomberg News.

But politics aside, building the pipeline may not be worth the money given falling oil and gasoline prices, the Los Angeles Times reported recently. The project’s costs have escalated from an original $7 billion to $8 billion in the six years since it was first proposed.

“The market shift has put TransCanada in the position of a real estate developer vying to build a skyscraper during the depths of the mortgage crisis,” as the Los Angeles Times put it.

Keystone XL’s supporters are aiming for a veto-proof majority to force passage of legislation that made it through the House of Representatives but in November but failed by one vote in the Senate. The bill would enable the project to go forward despite the need for State Department approval of the portion that crosses the international border between Canada, whose Alberta oil sands the bitumen would come from, and the United States. The route faces legal challenges in Nebraska as well. 

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curtj's picture
curtj
Submitted by curtj on
So what can be done to shame the bribed politicians since they are legally allowed to be bribed, wined and dined to pass legislation to financially and legally benefit their corporate sponsors? As you notice our leaders are out of step with their people and can offer no advocacy for their peoples resources and lands. They refuse to make comparisons between what is happening to the colonialism policies that is displacing their people from their resources and lands, to the ones America is spending trillions of dollars on internationally to invade and prop up despot dictators and puppet regimes, to allow foreigners the privilege of profiting off our trillions spent and thousands of American kids, moms, dads, gramma's, and grampa's,lives spent to keep the theft and murders running smoothly. Our leaders make it a point not to say anything, making me believe that they are indoctrinated by the colonial education system ,not to advocate for their peoples resources and lands.
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